Coala Life raises an additional SEK 11 million in growth capital

06/27/2019

STOCKHOLM, JUNE 27th, 2019. Coala Life today announced the expanded closing of previously announced A-series round of approximately SEK 11 million. The proceeds are intended to accelerate the commercialization process and establish the company on the US market. Investors includes the investment company Blue and members of the management team.

Swedish medical technology company Coala Life, the pioneer in digital cardiac diagnosis and user-centered medical innovations, today announced it has raised additional growth capital from Swedish institutional and private investors. The proceeds will accelerate the commercialization processes and establish the company on the US market – as a step following the recently announced FDA 510 (k) clearance for the Coala Heart Monitor.

The round was led by Blue, the Stockholm-based impact-led investment company that serves as a catalyst for sustainability- and wellness-driven innovation. Blue today owns companies such as Bluewater, a world leader in drinking water technologies and solutions, and is investing in a growing portfolio of game-changing companies, including Climeon, Baseload Capital, Save by Solar and Visiba Care.

“We’re now on route to go global with a mission to make it possible for everyone to monitor their hearts digitally to predict and prevent heart disease. It’s an honor to welcome Blue as a lead investor to support our journey to help win the battle against the world’s biggest public health threat”, said Philip Siberg, CEO of Coala Life.

Carnegie Investment Bank AB has acted financial advisor and Setterwalls Advokatbyrå AB has been legal advisor in connection with the A-round financing rounds concluded during the spring of 2019. Total proceeds raised in the A-round equal SEK 103 million, equal to approximately USD 11 million.

Coala Life is a Swedish digital health venture focused on cardiac diagnostics and digital health. The company has developed a portfolio of patented CE- and FDA cleared medical products and services for user-centered digital remote monitoring and screening of the heart based on advanced and smart algorithms. Coala’s solutions enable analysis, remote monitoring, more effective cardiac assessments and integrated care services, all in real time. Coala was named one of five global Cool Vendors within the Health and Wellness market by Gartner Group in 2018 and recognized as of the 100 Global Leaders in Digital Health by the Journal of mHealth. For more information see www.coalalife.com

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Coala Life AB, Riddargatan 18, 114 51 Stockholm, Sweden
Coala Heart Monitor is an FDA cleared and CE approved medical device system that is developed and validated in Sweden.
Coala Life AB is ISO 13485 certified. Coala is a registered trademark and the company's products are protected by more than 20 different patents.